If a person EMI is more than the salary he/she earns will you give loan to that person?

Question

Accepted Answer

No

No, it would not be advisable to give a loan to a person whose EMI is more than their salary.
Lending money to someone in such a situation increases the risk of default and non-payment.
It is important to assess the borrower's ability to repay the loan, and if their EMI exceeds their income, it indicates financial instability.
Giving a loan in this scenario could lead to financial distress for the borrower and potential losses for the lender.
It is crucial to consider the borrower's income, expenses, and financial stability before approving a loan.

Accepted Answer

Yes, by adding a co-applicant